Govts want savings to increase, ____
a. so that loan interest rates will increase
b. so that spending on business investment will increase
c. so that immigration will increase
d. all
Ans: b. so that spending on business investment will increase
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The significant increases in oil prices during the late 2000s was an example of
A) an aggregate demand shock that increased the price level and increased the rate of growth of real Gross Domestic Product (GDP). B) an aggregate demand shock that reduced the price level and reduced the rate of growth of real Gross Domestic Product (GDP). C) an aggregate supply shock that increased the price level and reduced the rate of growth of real Gross Domestic Product (GDP). D) an aggregate supply shock that reduced the price level and increased the rate of growth of real Gross Domestic Product (GDP).
Which of the following is associated with inelastic demand?
a. a limited amount of time for consumers to respond to a price change b. availability of many close substitutes c. large percentage of income spent on the good in question d. all of the above